By Ed Hinerman on May 21, 2013
I’ve gone and fooled myself again. I’ve been so adamant about the pathetic underwriting from 99.5% of life insurance companies that I sometimes forget that in that one half of once percent of companies that do great things, there are still humans underwriting, humans with biases. They might keep them in check most of the ...read more
Posted in Anxiety, decline, Depression, insurance, life insurance, over 50 life insurance, physicians life insurance | Tagged chonic controlled depression, chronic controlled anxiety, couldn't give it fair hearing, declined, emotionally torn to pieces, get off the decline list, get to underwriting director, insurance, life insurance, medical director who understands mood disorders, out of no where divorce, underwriter had been through divorces, underwriter with a bias, wrong underwriter at the wrong time |
By Ed Hinerman on May 13, 2013
Not everything that goes on in our medical lives is memorable. If our blood pressure is always in the normal range more than likely we are going to remember our last blood pressure reading. Unless I was deathly ill there is no way that I would remember what my temperature was the last time a ...read more
Posted in A1c, blood pressure, cancer, impaired risk life insurance, insurance, life insurance, Type 1 diabetes, Type 2 diabetes | Tagged A1c, blood pressure in normal range, cancer, diabetes, hbA1c, impaired risk life insurance, insurance, life insurance, Raynaud's ANA Titer, stage and grade pathology report, staph infection, Type 1 diabetes, Type 2 diabetes |
By Ed Hinerman on May 9, 2013
It’s been a while since I’ve updated this part of the life insurance process and there are some things that have changed and some that I simply need to redunderfy. Beneficiary designations are often not taken as seriously as they should be and can end up being problematic at best and just a little disastrous ...read more
Posted in application process, beneficiary, insurable interest, insurance, life insurance, life insurance claim | Tagged business buy/sell agreement, can or worms, contestabiity period, contingent beneficiary, engaged, insurance, life insurance, life insurance beneficiary, living together, medical power of attorney, medical records will be acquired, medical release signed, no legal relationship, primary beneficiary, probate, unmarried gay couples |
By Ed Hinerman on May 4, 2013
Two and half years ago when indexed universal life seemed to be taking over the life insurance landscape I spent considerable time studying the products and then posted my thoughts in this forum. In particular I took great exception to the fact that agents were running a muck claiming that IUL was the answer to ...read more
Posted in assumptions, cash value, death benefit, guarantee, guaranteed level premium, illustration, indexed universal life, insurance, life insurance, long term guarantee, no lapse guarantee, universal life | Tagged 8% to 13%, a little fishy, assumptions, better off under her mattress, buyer beware, consistently large cash value accumulation, don't trust indexed universal life, dynamic and flexible, enamored with interest rates, favorable loan structure, indexed univeral life insurance, inusrance, IUL, Jason Konopik, level premium and death benefit, life insurance, no lapse guarantee UL, overpriced risky investment |
By Ed Hinerman on May 2, 2013
I know what drives the reaction, the knee jerk response of applying to every insurance company who will accept an application. It’s a desperation that grows out of a declined life insurance application and the idea that the more people you get your information in front of, the better the chance that you will find ...read more
Posted in application process, approval, decline, impaired risk life insurance, insurance, insurance quotes, life insurance | Tagged acquisition of medical records, application process, declined, declined and applied with 8 companies, exams, insurance, life insurance, MIB, MIB activity, multiple applications, multiple exams, shop cases for fairest hearing, shotgun approach, waste of money, waste of time |
By Ed Hinerman on April 16, 2013
The mega agencies online are really starting to make us life insurance agents who take our time and try to do a good job look like we’re part of a clueless industry. I had an Intelliquote former client (declined last week) call today and tell me that he just didn’t understand what they were trying ...read more
Posted in Alcohol Treatment Life Insurance, CEO life insurance, decline, executives, insurance, life insurance, life insurance approval | Tagged alcohol marker, CDT, clueless industry, decline based on MIB information, decline due to alcohol use, decline due to current alcohol use, insurance, Intelliquote life insurance, life insurance, life insurance intelligence oxymoron, liver functions, mega agencies online, MIB hit, sensitive confidential lab results
By Ed Hinerman on April 5, 2013
Because of the nature of impaired risk life insurance, many of my clients start out just hoping for an approval (usually after several declines), but they soon find out that approval isn’t my end game. I don’t just want declines turned into approvals. I want to continue improving on those approvals until we have hit ...read more
Posted in Alcohol Treatment Life Insurance, application process, approval, budget, compliance, decline, impaired risk life insurance, Independent agent, insurance, life insurance | Tagged always accept approval, approval, approval isn't end game, best rates possible, decline, drug or alcohol treatment, harsh underwriting treatment, impaired risk life insurance, insurance, life insurance, make it work in budget, time sensitive underwriting issues
By Ed Hinerman on April 1, 2013
$12 a month! 70% lower life insurance rates! Just pennies a day! Between the internet and tv there can’t possibly be a person left that doesn’t know that somehow, somewhere people might qualify for really cheap insurance. But how do you know when you’ve applied and been approved for a life insurance company’s best rate ...read more
Posted in application process, approval, diabetes, ING Reliastar, insurance, life insurance, Sleep apnea | Tagged $12 a month, 70% lower rates, best rate available, best rate class available, companies that offer bonuses, favorite companies, hundreds of thousands fell victim, independent agents, ING Reliastar, insurance, life insurance, mega agencies, pennies a day, really cheap life insurance, sticking clients with 2nd best rate
By Ed Hinerman on March 26, 2013
We left off the other day with a description of Protective Life’s universal life conversion product, a product that simply defies the imagination. Since they introduced….no wait. They forgot to introduce the product. Since they gave their loyal term customers a bad UL suppository, agents and clients alike have been trying to figure out, beyond ...read more
Posted in bait and switch, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, insurance, life insurance, lifetime guaranteed UL, loyal customers, over 50 life insurance, term insurance, universal life | Tagged adverse selection, bad UL, conversion option win/win, convert as investments, didn't listen to actuaries, insurance, life insurance, life settlement adverse selection, life settlements, millions of people to drink the poison, never hinted to agents, never hinted to customers, Protective life bad conversion option, Protective to greedy to listen
By Ed Hinerman on March 12, 2013
I had an agent questioning me about indexed universal life today. He admitted he was a new agent. He also admitted that one of his primary attractions to the product were the high premium and high commission. Call me old fashioned but I emailed back to him and asked him to give some serious thought ...read more
Posted in guarantee, Independent agent, indixed universal life, insurance, life insurance, universal life | Tagged 8.5% annual interest assumed. show nothing but assumptions, Carl Locke, deception, high commission, high premium, indexed universal life, insurance, lack of candor with client, life insurance, Pacific Life, putting client's first |
